Yesterday, the EUR/USD pair traded in different directions in the range of 1.0705-1.0770 and closed the day without significant changes. Today the pair also traded in a narrow range of 1.0745-65, remaining close to yesterday's closing price. On the hourly chart, EUR/USD is testing the strength of resistance - the moving average line MA (200) H1 (1.0750). On the four-hour chart, the pair still remains below the MA 200 H4 line. Based on the above, it is probably worth sticking to the southern direction in trading and while the pair remains below MA 200 H1, it may be necessary to look for entry points to sell at the end of the correction.
Probably, the main scenario is a resumption of decline towards 1.0705 (Sep 12 low).
The alternative scenario is consolidation above MA 200 H1, followed by growth to 1.0925 (Aug 31 high).
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